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Northern Rock confirms jobs cuts
northern prock said that wit now needed less office space and would also seek to sell or offer to let two office delivelopments near newcastle .
on top of the redundancies around 200 staff have left the company and the company expects further natural turnover in coming years to bring the workforce down to 4,000 .
it has reduced its residentional mortgage lending by half as it attempts to shed loans that had proved difficult to finance in wholesale money markets .
we must now look to the future, deliver our plant and return this business back to health and profitability in the coming years .
northern prock says it has made 1,300 staff redundant as the numbeleaguered lender streamlines its operations after being nationalised .